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OTHER INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Summary of Activity for Each of Company's Other Investments

Below is a summary of activity for each of the Company’s other investments for the periods indicated:

 

 

DCIP

 

 

AC JV,
LLC

 

 

DCDC

 

 

FE Concepts

 

 

Other

 

 

Total

 

Balance at January 1, 2019

 

$

125,252

 

 

$

5,266

 

 

$

2,255

 

 

$

19,918

 

 

$

4,075

 

 

$

156,766

 

Equity in income (loss)

 

 

23,281

 

 

 

3,276

 

 

 

1,120

 

 

 

(399

)

 

 

—

 

 

 

27,278

 

Equity in comprehensive loss

 

 

(141

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(141

)

Cash distributions received

 

 

(23,696

)

 

 

(3,520

)

 

 

(206

)

 

 

—

 

 

 

—

 

 

 

(27,422

)

Other (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1,196

)

 

 

(1,196

)

Balance at December 31, 2019

 

$

124,696

 

 

$

5,022

 

 

$

3,169

 

 

$

19,519

 

 

$

2,879

 

 

$

155,285

 

Equity in loss

 

 

(24,559

)

 

 

(1,277

)

 

 

(1,036

)

 

 

(1,246

)

 

 

—

 

 

 

(28,118

)

Cash contributions

 

 

50

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

50

 

Cash distributions received

 

 

(10,383

)

 

 

—

 

 

 

(878

)

 

 

—

 

 

 

—

 

 

 

(11,261

)

Non-cash distribution received (2)

 

 

(89,804

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(89,804

)

Other (3)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,426

)

 

 

(2,426

)

Balance at December 31, 2020

 

$

—

 

 

$

3,745

 

 

$

1,255

 

 

$

18,273

 

 

$

453

 

 

$

23,726

 

Equity in income (loss)

 

 

—

 

 

 

(34

)

 

 

583

 

 

 

1,005

 

 

 

—

 

 

 

1,554

 

Other (1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(75

)

 

 

(75

)

Balance at December 31, 2021

 

$

—

 

 

$

3,711

 

 

$

1,838

 

 

$

19,278

 

 

$

378

 

 

$

25,205

 
(1)
Consists primarily of mark-to-market adjustment on an investment in marketable securities.
(2)
Consists of projectors distributed to the Company from DCIP as discussed below.
(3)
Consists primarily of the impairment of a cost method investment in the year ended December 31, 2020 (see Note 11 for discussion of impairments recorded) and mark-to-market adjustment on an investment in marketable securities.
Digital Cinema Implementation Partners  
Summary Financial Information

Below is summary financial information for DCIP as of and for the years periods indicated:

 

 

Year ended December 31,

 

 

 

2019

 

 

2020

 

 

2021

 

Revenues

 

$

171,531

 

 

$

30,561

 

 

$

54,383

 

Operating income (loss)

 

$

99,812

 

 

$

(105,691

)

 

$

43,062

 

Net income (loss)

 

$

95,820

 

 

$

(114,243

)

 

$

45,323

 

 

 

 

 

As of

 

 

 

December 31, 2020

 

 

December 31, 2021

 

Current assets

 

$

36,372

 

 

$

22,947

 

Noncurrent assets

 

$

205

 

 

$

—

 

Current liabilities

 

$

39,844

 

 

$

11,631

 

Noncurrent liabilities

 

$

687

 

 

$

—

 

Members' equity (deficit)

 

$

(3,954

)

 

$

11,316

 
Transactions with DCIP

In addition to the activity presented in the other investments table above, the Company had the following transactions with DCIP during the periods indicated:

 

 

Year Ended December 31,

 

 

 

2019

 

 

2020

 

 

2021

 

Equipment lease payments (1)(2)

 

$

4,399

 

 

$

1,729

 

 

$

—

 

Warranty reimbursements from DCIP (2)

 

$

(11,800

)

 

$

(6,997

)

 

$

(798

)

Management services fees (2)

 

$

596

 

 

$

208

 

 

$

49

 

Cash distributions from DCIP (3)

 

$

23,696

 

 

$

10,383

 

 

$

13,139

 

Non-cash distributions from DCIP (4)

 

$

—

 

 

$

12,915

 

 

$

—

 
(1)
Excludes lease termination payments of $695 and $3,895 made during the years ended December 31, 2020 and 2021, respectively. See discussion of MELA termination at Distribution of Digital Projectors above.
(2)
Amounts reflected in utilities and other costs on the consolidated statements of income (loss).
(3)
Recorded as a reduction in the Company's investment in DCIP for the years ended December 31, 2019 and 2020. Recorded in cash distributions from DCIP on the consolidated statements of income (loss) for the year ended December 31, 2021. See discussion at Distribution of Projectors from DCIP above.
Recorded as non-cash distributions from DCIP on the consolidated statements of income (loss). See discussion at Distribution of Projectors from DCIP above.